Radiant Logistics (NYSEAMERICAN:RLGT) CFO Sells $109,779.00 in Stock

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) CFO Todd Macomber sold 11,868 shares of Radiant Logistics stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $9.25, for a total value of $109,779.00. Following the sale, the chief financial officer owned 87,249 shares of the company’s stock, valued at approximately $807,053.25. This represents a 11.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Todd Macomber also recently made the following trade(s):

• On Friday, June 12th, Todd Macomber sold 43 shares of Radiant Logistics stock. The shares were sold at an average price of $9.25, for a total transaction of $397.75.
• On Tuesday, March 31st, Todd Macomber sold 7,500 shares of Radiant Logistics stock. The stock was sold at an average price of $7.00, for a total transaction of $52,500.00.

Radiant Logistics Stock Performance

Shares of NYSEAMERICAN RLGT opened at $8.75 on Thursday. The company has a 50-day simple moving average of $8.39 and a 200-day simple moving average of $7.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market cap of $409.76 million, a PE ratio of 25.74 and a beta of 0.82. Radiant Logistics, Inc. has a 12 month low of $5.78 and a 12 month high of $9.45.

Radiant Logistics (NYSEAMERICAN:RLGT) last released its earnings results on Monday, May 11th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Radiant Logistics had a net margin of 1.81% and a return on equity of 10.19%. The firm had revenue of $214.14 million during the quarter, compared to analysts’ expectations of $222.60 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLGT. Royce & Associates LP increased its stake in Radiant Logistics by 5.3% during the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after acquiring an additional 113,720 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Radiant Logistics by 12.4% during the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after buying an additional 148,381 shares in the last quarter. Geode Capital Management LLC grew its stake in Radiant Logistics by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 834,390 shares of the company’s stock worth $5,283,000 after buying an additional 24,150 shares during the period. Russell Investments Group Ltd. increased its position in shares of Radiant Logistics by 4.3% in the fourth quarter. Russell Investments Group Ltd. now owns 594,532 shares of the company’s stock worth $3,763,000 after acquiring an additional 24,506 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Radiant Logistics by 24.2% in the second quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock worth $2,733,000 after acquiring an additional 87,436 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital raised their target price on shares of Radiant Logistics from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $12.00.

Radiant Logistics Company Profile

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.